Economy

Economy - overview

Since 2004, garments, construction, agriculture, and tourism have driven Cambodia's growth. GDP climbed more than 6% per year between 2010 and 2012. The garment industry currently employs more than 335,000 people and accounts for more than 75% of Cambodia's total exports. In 2005, exploitable oil deposits were found beneath Cambodia's territorial waters, representing a potential revenue stream for the government, if commercial extraction becomes feasible. Mining also is attracting some investor interest and the government has touted opportunities for mining bauxite, gold, iron and gems. The tourism industry has continued to grow rapidly with foreign arrivals exceeding 2 million per year since 2007. Cambodia, nevertheless, remains one of the poorest countries in Asia and long-term economic development remains a daunting challenge, inhibited by endemic corruption, limited educational opportunities, high income inequality, and poor job prospects. Approximately 4 million people live on less than $1.25 per day and 37% of Cambodian children under the age of 5 suffer from chronic malnutrition. More than 50% of the population is less than 25 years old. The population lacks education and productive skills, particularly in the impoverished countryside, which also lacks basic infrastructure. The Cambodian government is working with bilateral and multilateral donors, including the World Bank and IMF, to address the country's many pressing needs; more than 50% of the government budget comes from donor assistance. The major economic challenge for Cambodia over the next decade will be fashioning an economic environment in which the private sector can create enough jobs to handle Cambodia's demographic imbalance.

GDP (purchasing power parity)

$36.59 billion (2012 est.) $34.37 billion (2011 est.) $32.1 billion (2010 est.) note: data are in 2012 US dollars

GDP (official exchange rate)

$14.25 billion (2012 est.)

GDP - real growth rate

6.5% (2012 est.) 7.1% (2011 est.) 6.1% (2010 est.)

GDP - per capita (PPP)

$2,400 (2012 est.) $2,300 (2011 est.) $2,100 (2010 est.) note: data are in 2012 US dollars

GDP - composition by sector

agriculture: 34.7% industry: 24.3% services: 41% (2012 est.)

Population below poverty line

31% (2007 est.)
Labor force
8.8 million (2010 est.)

Labor force - by occupation

agriculture: 57.6% industry: 15.9% services: 26.5% (2009 est.)

Unemployment rate

3.5% (2007 est.) 2.5% (2000 est.)

Household income or consumption by percentage share

lowest 10%: 3% highest 10%: 37.3% (2007)

Distribution of family income - Gini index

44.4 (2007 est.) 40 (2004 est.)

Investment (gross fixed)

19.1% of GDP (2012 est.)

Budget

revenues: $2.216 billion expenditures: $2.934 billion (2012 est.)

Taxes and other revenues

15.6% of GDP (2012 est.)

Budget surplus (+) or deficit (-)

-5% of GDP (2012 est.)

Inflation rate (consumer prices)

4.5% (2012 est.) 5.5% (2011 est.)

Central bank discount rate

NA% (31 December 2008) 5.25% (31 December 2007)

Commercial bank prime lending rate

15.7% (31 December 2012 est.) 15.22% (31 December 2011 est.)

Stock of narrow money

$1.094 billion (31 December 2012 est.) $965.8 million (31 December 2011 est.)

Stock of money

$591.7 million (31 December 2008) $513.6 million (31 December 2007)

Stock of broad money

$5.695 billion (31 December 2012 est.) $5.037 billion (31 December 2011 est.)

Stock of quasi money

$3.197 billion (31 December 2009) $2.328 billion (31 December 2008

Stock of domestic credit

$3.689 billion (31 December 2012 est.) $3.115 billion (31 December 2011 est.)

Market value of publicly traded shares

$NA

Agriculture - products

rice, rubber, corn, vegetables, cashews, cassava (manioc), silk

Industries

tourism, garments, construction, rice milling, fishing, wood and wood products, rubber, cement, gem mining, textiles

Industrial production growth rate

5.7% (2010 est.)
Current Account Balance
-$1.508 billion (2012 est.) -$1.158 billion (2011 est.)

Exports

$6.148 billion (2012 est.) $6.018 billion (2011 est.)

Exports - commodities

clothing, timber, rubber, rice, fish, tobacco, footwear

Exports - partners

US 39.5%, Canada 8.2%, Germany 7.8%, UK 7.5%, Vietnam 6%, Japan 4.3% (2011)

Imports

$8.84 billion (2012 est.) $8.213 billion (2011 est.)

Imports - commodities

petroleum products, cigarettes, gold, construction materials, machinery, motor vehicles, pharmaceutical products

Imports - partners

Thailand 24.6%, Vietnam 20.6%, China 19.9%, Singapore 7.8%, Hong Kong 6% (2011)
Reserves of foreign exchange and gold
$3.732 billion (31 December 2012 est.) $4.069 billion (31 December 2011 est.)

Debt - external

$5.071 billion (31 December 2012 est.) $5.03 billion (31 December 2011 est.)

Exchange rates

riels (KHR) per US dollar - 4,075.4 (2012 est.) 4,058.5 (2011 est.) 4,184.9 (2010 est.) 4,139 (2009) 4,070.94 (2008)

Fiscal year

calendar year